Climate Changed
Want to Use the Earth to Heat Your Home? Investors Try to Help
- Startup Dandelion eyes New York homes for geothermal systems
- Dandelion raises another $4.5 million, tripling initial funds
Shops in village of Rhinebeck. New York.
Photographer: John Greim/LightRocket via Getty Images
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It may seem old school, but a group of investors wants to help New Yorkers tap the power of the Earth to heat and cool their homes.
Geothermal energy, which was used by ancient Romans, Chinese and Native Americans as a heat source, may be able to power systems that can replace old residential oil furnaces. Dandelion Energy Inc., a New York-based startup, just raised $4.5 million from a group of venture capitalists led by New Enterprise Associates, more than tripling its $2 million in initial funding.